Louisiana State Employees Retirement System Invests $1.71 Million in CBRE Group, Inc. (NYSE:CBRE)

Louisiana State Employees Retirement System acquired a new position in CBRE Group, Inc. (NYSE:CBRE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,400 shares of the financial services provider’s stock, valued at approximately $1,713,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Apollon Wealth Management LLC increased its stake in shares of CBRE Group by 1.7% in the first quarter. Apollon Wealth Management LLC now owns 9,436 shares of the financial services provider’s stock worth $687,000 after acquiring an additional 155 shares during the period. CIBC Asset Management Inc grew its position in CBRE Group by 0.3% during the first quarter. CIBC Asset Management Inc now owns 46,601 shares of the financial services provider’s stock valued at $3,393,000 after buying an additional 159 shares during the period. Schechter Investment Advisors LLC grew its position in CBRE Group by 6.4% during the third quarter. Schechter Investment Advisors LLC now owns 2,787 shares of the financial services provider’s stock valued at $206,000 after buying an additional 168 shares during the period. NewEdge Advisors LLC grew its position in CBRE Group by 3.7% during the first quarter. NewEdge Advisors LLC now owns 5,092 shares of the financial services provider’s stock valued at $371,000 after buying an additional 180 shares during the period. Finally, Belpointe Asset Management LLC grew its position in CBRE Group by 57.4% during the first quarter. Belpointe Asset Management LLC now owns 499 shares of the financial services provider’s stock valued at $36,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Down 0.3 %

Shares of CBRE opened at $84.90 on Friday. The stock has a 50 day moving average price of $92.40 and a 200 day moving average price of $84.79. CBRE Group, Inc. has a one year low of $64.63 and a one year high of $98.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $26.06 billion, a price-to-earnings ratio of 26.78 and a beta of 1.42.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.17. The company had revenue of $8.95 billion for the quarter, compared to analysts’ expectations of $8.44 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 EPS. Equities research analysts forecast that CBRE Group, Inc. will post 4.44 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,667 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Emma E. Giamartino sold 2,667 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chandra Dhandapani sold 11,925 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the completion of the transaction, the chief executive officer now directly owns 127,064 shares in the company, valued at $11,947,827.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,592 shares of company stock valued at $3,675,752. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James raised their price target on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Evercore ISI raised their price target on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research report on Tuesday, April 2nd. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Finally, Jefferies Financial Group began coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price on the stock. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CBRE Group currently has a consensus rating of “Hold” and an average target price of $99.50.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.